Risk
Insurers should pool their international resources, if available, to help defend against the global nature of emerging risks
By Mike Wallace, Vice President of Risk, Underwriting and Reinsurance, Royal & SunAlliance Canada | November 30, 2006
6 min read
Underwriting that takes into account the ethical practices of corporations is better for everyone - including the insurance industry.
By Rob Bickerton, Senior Underwriter, Corporate Risk Division, The Guarantee Company of North America | November 30, 2006
The Government of New Brunswick is negotiating with the province’s insurance industry to seek “the elimination of existing [auto insurance-related] territories and the elimination of discrimination based on gender when evaluating consumer risk.” The government has appointed Fredericton lawyer Bill Anderson, a longtime government litigator, as its lead negotiator. The Office of Justice and Consumer […]
November 30, 2006
1 min read
ACE INA Insurance and ACE INA Life Insurance recently its annual cocktail reception in October at Le Royal Meridien King Edward Hotel in Toronto. *** The Natural Sciences and Engineering Research Council of Canada (NSERC), the Benfield Group and the Institute for Catastrophic Loss and Reduction (ICLR) welcomed Dr. Kristy Tiampo as the new industrial […]
5 min read
For the first known time, the Ontario Court of Appeal has awarded punitive damages in a drunk driving case that resulted in serious injury. The decision, the court’s dissenting opinion suggests, means insurers will be on the hook for paying out rare punitive damage awards in similar drunk driving cases. In Andrea McIntyre et al. […]
2 min read
Achieving price discipline should be the primary focus for insurers and reinsurers when considering their own risk management practices, Aon Re Services president Bryon G. Ehrhart told the Aon Re Canada’s Rendezvous 2006 in Mississauga. Ehrhart noted the earnings pattern of the U.S. insurance industry was three times more volatile than the standard market volatility […]
Royal & SunAlliance says Canadian net written premiums were CD $1.03 billion (501 million) during the first nine months of 2006, an increase of 9% over the same period in 2005. “This reflects strong growth in both commercial (lines) and Johnson Inc.,” the company reported in a press release. The Canadian combined operating ratio of […]
Marsh has announced it is opening an office in Halifax, Nova Scotia, creating up to 150 new jobs.The risk and insurance company is establishing a technical centre of excellence to provide high-level financial administrative support for its captive solutions business.Nova Scotia Premier Rodney MacDonald announced Marsh’s technical centre of excellence on Nov. 30. He was […]
By Canadian Underwriter | November 30, 2006
Ship owners accustomed to double-digit increases in their protection and indemnity premiums over the past five years may be disappointed if they are expecting an improvement in their 2007 renewal terms, a Lloyd’s broker says.HSBC Insurance Brokers, a P&I specialist, says an optimistic shipping industry may be hoping for lower premiums based on the strength […]
By Canadian Underwriter | November 29, 2006
The Risk and Insurance Management Society, Inc. (RIMS) has launched a new Risk Maturity Model for Enterprise Risk Management (ERM), an online resource that provides guidelines and best practices for developing and maintaining a comprehensive risk management program. The Risk Maturity Model uses standardized criteria by which organizations can evaluate and improve their approach to […]
By Canadian Underwriter | November 28, 2006
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